"The company's proven products and established relationships with personal care consumer companies, combined with its robust technology platform and seasoned management team, create a strong competitive advantage," said Aki Georgacacos, Partner of Avrio Ventures and new board member of Botaneco. "The double-digit annual growth in the natural personal care segment makes it one of the fastest growing markets for global personal care products. The company's oleosome technology is well positioned to capitalize on this trend away from petroleum and other synthetic ingredients. We are very excited to assist Botaneco in both expanding its ability to meet the growing demand for its existing products as well as to exploit opportunities for further product development in the topical OTC market."
AVAC, Avrio Ventures and SemBioSys have agreed to allow other investors to participate in the convertible debenture financing through subsequent subscriptions for a period of 120 days, up to a maximum of $4.5 million in additional proceeds.
About Botaneco Specialty Ingredients Inc.
Botaneco is the global developer and marketer of innovative oleosome-based ingredients to the personal care and OTC topical markets. As a technologically driven provider of high performance, proprietary oleosome-based ingredients, Botaneco is committed to developing innovative ingredients that offer multifunctional, tangible and documented benefits to both formulators and consumers. Botaneco's head office and manufacturing facility is located in Calgary, Canada and its satellite office in Bensalem PA. More information is available and can be accessed at http://www.botaneco.ca.
About SemBioSys Genetics Inc.
Calgary, Alberta-based SemBioSys Genetics Inc. is a biotechnology
|SOURCE SemBioSys Genetics Inc.|
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